The Japanese Securities and Exchange Surveillance Commission (SESC) today announced that it has lodged a criminal complaint against a former employee of Tokyo Stock Exchange, Inc., a subsidiary of Japan Exchange Group, Inc. (JPX), to the Tokyo District Public Prosecutors Office on suspicion of violating the Financial Instruments and Exchange Act (information transmission).
JPX has dismissed the former employee, effective today, in accordance with internal regulations.
JPX has established an Independent Directors’ Investigation Committee to investigate this matter in parallel with the investigation by the SESC. The Committee is currently evaluating and verifying the employee education and training systems, business processes, and information management systems in relation to this incident.
JPX Group is now implementing measures to prevent recurrence, including training for officers and employees. However, as some details of the incident have been revealed by the criminal complaint from the SESC, the Committee will complete its investigation and verification taking these details into account, and JPX will promptly disclose its investigation report as soon as this is completed.
The Exchange commented:
“Going forward, JPX Group will take thorough measures to prevent recurrence based on the results of the Committee’s investigation, including ensuring that every one of our officers and employees has strong awareness of compliance with laws and regulations and strengthening our internal control systems. We are committed to making every effort to restore the trust of investors, listed companies, and all other related parties”.
